The average profit for businesses in all industries in Australia was $161,000, for the year 1998-99, an increase of $15,000 from 1997-98 according to preliminary estimates from the Australian Bureau of Statistics (ABS).

Figures show the operating profit before tax for all Australian industries increased by 9.8 percent to be $115.9 billion in 1998-99.

The finance and insurance industry reported the largest profit of $35,071 million, and also the largest increase from 1997-98, $2,366 million. The manufacturing industry was the next highest profit maker with $13,188 million, although this was a decrease of $425 million from 1997-98.

At the all industry level capital expenditure decreased by 2.6 percent in 1998-99. The largest decrease was 28.0 percent experienced in the finance and insurance industry, with the largest increase 39.7 percent in wholesale trade.

In 1998-99, the number of operating businesses in Australia decreased by 1,500 (0.2 percent). This was the first decrease since 1994-95.

Total employment by all businesses declined 2.7 percent to a total of 6,391,000 people. Employment increased in the wholesale trade industry by 27,000 people and in cultural and recreational services by 9,000 people.

Approximately 21,000 public and private sector businesses were included in the survey. This preliminary publication also contains a range of industry performance indicators, including industry ratios and business averages as well as selected aggregates on operating income and expenses, profit, net worth, capital expenditure and industry value added.

Further details are available in Business Operations and Industry Performance, Australia, Preliminary 1998-99 (cat. no. 8142.0) available from ABS bookshops. The summary of main findings can be found on this site.